Advice Wanted

Mevs01

Hi Every month i ask my self the same question so thought i would put it out there instead.

I currently take home about £1,200 a month after paying my house bills it leaves me with £515 remaining, then with other commitments i basically have about £450 left to pay some credit card bills & petrol and money for myself. Currently i am paying as per below

Credit Card 1 £80 PM Small balance to pay recent purchase in 3 months
Credit Card 2 £110PM High balance @ 0% As much as possible to clear within a year
Credit Card 3 £250 Regular spending Cleared every month

So with this method i have no cash left but a Credit Card to use to buy things. Slightly depressing to.

Or should i pay less on Credit Cards 1 & 2 and live with the debt a bit longer?

camuk81

Are you able to make cutbacks in other area's. Try putting a statement of affairs up to work out how you are doing, But remember you can't eat an elephant in one bite.

Whats the apr on card 1?

Tixy

So on card 3 you spend the same amount as you pay off?

So you are paying £190 (80 + 110) a month off your debts out of your £515, and therefore spending £325 on petrol and other items?

How much is your petrol a month? what else does the £325 have to cover? entertainment? clothes? presents? haircuts? does it have to cover your car maintenance costs? things like car insurance? does it include groceries?
Worth trying to breakdown where that money is going and whether you've budgeted enough to not need to put future purchases onto your credit cards (aside from the regular £250)

Mevs01

The remaining balance of £450 covers everyting, petrol about £80pm, cars, clothes, entertainment. We have a 1year old so don't socialise much anymore except day trips. Have a regular budget to help but forever counting my money. Groceries are covered in house bills.
Credit card 3 is used daily but have a DD to clear it.